Demand and Supply

Demand and Supply

10th Grade

17 Qs

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Demand and Supply

Demand and Supply

Assessment

Quiz

Business

10th Grade

Practice Problem

Medium

Created by

Jehu Graham

Used 12+ times

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17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is demand ?

The willingness and ability to purchase a good backed by the ability to pay for it

The ability to purchase a good or service

Your desire to own a BMW

The willingness of a customer to purchase a good or service

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A market is?

A place to find various goods and services

Where buyers go to showcase their goods

Where buyers and sellers come together to exchange goods and services

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Changes in income represents a.........

Determinant of supply

Determinant of Demand

Market Force

will change prices

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Supply is only the provision of a good or service a particular price at a particular time

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

an assumption by economists to mean all other factors remain constant

Market holds constant

Break even

Ceteris Paribus

Carpe noctem

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Price of the good, Population, Tastes and preferences and rates of interest are?

Determinants of Demand

Determinants of Supply

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The demand curve will shift to the left (decrease in demand)

Advertising decreases

When price of the good decreases

Number of sellers changes

The price of production decreases

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